A key tool to help California reach ambitious greenhouse gas reduction goals will continue for decades to come, as Gov. Jerry Brown signed an extension of the state’s cap-and-trade program on Tuesday.
Brown was joined by legislative leaders and his predecessor, Arnold Schwarzenegger, to sign Assembly Bill 398 on Treasure Island in San Francisco Bay. The legislation extends the system through which the state limits greenhouse gases from companies by creating a marketplace for emissions.
"We are a nation-state in a globalizing world and we’re having an impact," Brown said. "You’re here witnessing one of the key milestones in turning around this carbonized world into a decarbonized sustainable future."
More than a decade ago, Schwarzenegger stood in the same spot to sign Assembly Bill 32. That bill both set emission reduction goals for California and authorized the creation of the cap-and-trade program.